EU Parliament votes for legislative package against climate change

In the future, producers abroad will also have to pay for CO2 emissions if they want to sell their goods in the EU – through a so-called CO2 border adjustment, which should apply in full from 2034. This system is intended to motivate non-EU countries to set higher climate protection targets. It is also designed to ensure that climate protection efforts are not undermined by shifting production out of the EU to countries with more lax regulations. The rules apply to iron, steel, cement and aluminium, but also to fertilisers, electricity and hydrogen. Anyone who wants to import these goods has to compensate for the difference between the CO2 price paid in the country of production and the higher price of the CO2 certificates in the EU emissions trading system.